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Technology Stocks : SYQUEST
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To: Troy Shaw who wrote (7015)8/13/1998 10:16:00 PM
From: Dale Stempson  Read Replies (1) of 7685
 
>>> It also explains some of the recovery in the stock price, because conversion may have begun, and short selling has eased. <<<

Troy, Keep in mind that as the share price moves lower, there's the possibility of increased shorting due to the higher number of common which can be converted from the Series 7 floating preferred shares.

BTW, I'd guess you've read the shorting terms and conditions for some of the earlier series of preferred. Since you're digging into this, I'll also point out that there are ways to more or less bypass the shorting restrictions detailed in the filings. My point is that the shorts are not solely Series 7 holders and the problem is larger than most believe (IMO).

Regards - Dale
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